Binance's $3.5 Billion Mistake: What Really Happened with PENGU?

Big news in the cryptocurrency family — Binance made a huge mistake when listing Puddy Penguins ($PENGU), and everyone is talking about it.

Here’s the thing: within the first 30 minutes of PENGU going live, Binance displayed its market cap as $350 million instead of the actual $3.5 billion.

This wasn’t a minor slip-up — it was a billion-dollar mistake that caused chaos in trading.

It turns out that the issue was caused by a delay in updating token information from Binance's primary data provider, CoinMarketCap (CMC).

The good news? Binance quickly addressed the issue, collaborated with CMC to fix it, and publicly apologized for the confusion.

But they didn’t stop there — traders affected during the trading window from 14:00 to 14:37 on December 17 will receive an airdrop of up to 135 million PENGU tokens as compensation.

Binance also promised to improve its services, planning to explore alternative data sources and strengthen its audits with CMC.

This was an expensive lesson for the exchange and serves as a reminder for traders to stay vigilant even on the largest trading platforms.

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